Walmart Shares Decline After Rare US Sales Miss

Walmart reported a rare miss on US sales expectations in the second quarter, with same-store sales growth of 2.6% falling below analyst estimates and marking the slowest pace in over six years. The underperformance was primarily driven by pricing pressure in the pharmacy business, raising concerns about a potential slowdown at the retail giant amid a sluggish US economy. The disappointing results triggered a sharp 10% intraday decline in Walmart's stock price, the largest drop since 2022.